Court broadens SEC power to recoup fraud profits
The Supreme Court upheld a broad reading of the SEC’s authority to disgorge ill-gotten gains in securities fraud cases, reinforcing the agency’s power to recoup profits for investors.
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Ill Gotten Gains
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SEC Sets Record with $279M Whistleblower Award
The US Securities and Exchange Commission (SEC) has awarded a record $279m to a whistleblower who provided information that led to successful enforcement actions. The award is more than double the previous record of $114m, issued in October 2020. Whistleblowers may receive an award if they provide timely and credible information that leads to successful enforcement actions. The SEC has ordered bad actors to surrender over $4bn in ill-gotten gains and interest as a result of tips from whistleblowers.